Veidekke ASA: Sold 196 residential units at a value of NOK 900 million

Veidekke ASA: Sold 196 residential units at a value of NOK 900 million

04.10.2018 - 08:00

Veidekke sold 196 residential units in the third quarter of 2018. Overall, Veidekke’s sales of residential units amounted to NOK 900 million in the third quarter of 2018. The number of own-account residential units under construction is 2,809.

Overall activities are on level with the second quarter of 2018 and the third quarter one year ago. The number of units under construction has declined from the second quarter of 2017, and is currently at 2,809 units, compared with 3,366 a year ago. Veidekke’s share in the quarter is 2,260 units. The sales ratio for units under construction is 80%.

“Sales in Norway and Sweden remain on level with the preceding quarters. The Oslo area still has the highest level of activity, while there is considerable variation in our other markets. We are experiencing high interest in our projects, but residential buyers are now spending more time selecting their homes than before because of the high number of new and used residential units on the market,” said Jørgen Wiese Porsmyr, EVP Project Development.

Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of building and civil engineering contracts, develops residential projects, maintains roads, and produces asphalt and aggregates. The company is characterised by involvement and local knowledge. Revenue is around NOK 32 billion, and half of the 8,000 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.